Charty registration numbgr 1083847 Company r¢glstratlon number 04117752 {England and Wales) WATLINGTON HOSPITAL CHARITABLE TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
WATLINGTON HOSPITAL CHARITABLE TRUST LEGAL AND ADMINISTRATIVE INFORMATION Twsto0$ Mr P Bassett Mrs l M Birch-Reynardson Mr N George MrAC Gordon Secretary Mr P Bassett Charlty numbèr 1083847 Company numb•r 04117752 Registered offlce Adwell House Adwell Thame Oxfordshire OX9 7DQ Indgpondent •xamln•r Rousg Partners LLP 55 Station Road Beaconsfield Buckinghamshire Uniled Kingdom HP9 1QL
WATLINGTON HOSPITAL CHARITABLE TRUST CONTENTS Page Trustees. report Independent examinerfs report Statement of financial activities Balance shggt Notes lo the financial st8lemenls 6-11
WATLINGTON HOSPITAL CHARITABLE TRUST TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 DECEMBER 2023 The Iruslees present their annual report and finan(ial ststements the year ended 31 December 2023. The financial slalernenls have been prepared in accordance with the accounting policies Sel out in note 1 to the financial slalefflenls and comply with the Iru5V5 Igoveming documenll. the Companies Act 2006 and "Accounting and Reporting by Charities.. Slalemenl ol Recommended Practice 8pplicable to charitie5 preparing their accounts in accordance with the Financial Reporb"ng Standar(J applicable in the UK and Republic of Ireland IFRS 1021. leffeclive 1 Janu8ry 20191. Objectives and activities Oblectlves and alrns The objects of the eharily are the relief of sickness and the relief of di5abililies of old age. These have been mel by acquiring the sile of the old hospi1818nd 8rr8nging lor WHCTS partners Sanctuary Carè Limited Isancluaryi lo run and maintain the Wallinglon H05pilal as a mulli purpx)se Nursing Home. (The residents and patients are referred to the Hospilallcare Home by the Medical Practitioners based in Oxfordshire Primary Care Trust ol the NHS.I Longer term c8re,respile eare, intemiediale care and assistsnce for older people with mentsl health needs are provided by the Sanctuary. The majority ol the patients in all categories are placed by the Oxfordshire pooled budget ol the NHS and Oxfordshire County Counul as part of their block booking with Sanctuary. Regular meetings beeen the care home management team and the trustees normally take place al which progress within the home is reviewed. The Iruslees have paid due regard to guidants issued by the Charity Commission in decAding whit activities the trust should undertake. Achlgvgmgnls and perforniance Charltable actlvltles and Investmont performance The Trustees are satisfied wilh the achievemenl of the charilable objectives outlined above. The Trustees are also satisfied with the performance ol the investments. Flnan¢lal revlew The value of investments al the year end are £700,382 and Ihe reserves at the year end, exduding the value of land and leases, amounted lo £916,507. The Tnjslees made these investments to generate funds to enable the charity lo provide ongoing support to the hospital as well as to cover more significant capital expenditure. Recurring contributions include al payments towards Sanctua5 costs to ensure that asS lo the hospital is available lo local people and bl funds for the maintenance of grounds not leased to Sanctuary or the Chillem Surgery as well as towards essential maintenance and voluntary support in certain areas. It is the policy of the trust that unrestricted funds which have not been designaled lor a specific use should be maintained at a level equivalenl to between three and six month's expenditure. The Irustees consider that reserves at Ihis level will ensure that, in the event ol a significant drop in lunding, they will be able to continue the trust's current activities while consideratson is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout Ihe year. Structure, govemance and management The charity is governed by its Memorandum and deS of Assoaation. and constitutes a limited company, limited by guaranlee as defined by the Companies Act 2(M)6.
WATLINGTON HOSPITAL CHARITABLE TRUST TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 The trustees, who are also the directors for the purpose of company law, and who seNed during the year and up to the date of signature of Ihe financial statements were= Mr P Bassett Mrs l M 8irch-Reynardson E Crossman Mr N George Sir C Paine MrAC Gordon {Resned 13Augusl 2024) {ReSned 31 December 20231 IAppoinled 28 November 20231 New and existing Iruslees are given sufficient training and have enough knowledge to understand the nature of the charity and fully comply with the charities currenl view of its aims. None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee lo contribute £1 in the event of a winding up. The company's current policy concerning the payment of trade creditors is to follow the CBI'S Prompt P8yers Code (copies are available from the CBI. Centre Point. 103 New Oxford Slreet. London WC1A 1 DUI. The companls current policy concerning the paymenl of trade creditors is lo= settle the terms of payment wth suppliers when agreeing Ihe temis of each transaction,. ensure thal suppliers are made aware of Ihe terms ol payment by in¢lusion of the relevant ternis in contracts., and pay in accordance with the company's conlraclual and olherlogal obligalions. The Iruslees, report was approved by the Boar(i of Trustees. Mr P Bassett Trustee Dale.. 03-Oct-2024
WATLINGTON HOSPITAL CHARITABLE TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF WATLINGTON HOSPITAL CHARITABLE TRUST I report to thg trustees on my examination of the financial statements of Wauington Hospital Charitable Trust Ithe trust) for the year ended 31 Dember 2023. Responsibllitles and basls of report As thg trLJStees ol the trust land also its direclors for the purposes of company lawl you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 Ilhe 2006 Act). Having satisfied myself that the financial sL9tements of the trust are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination. I report in respect of my examination ol the Irusl's financial slalemenls carried out under section 145 of the Charities Act 2011 Ilhe 2011 Actl. In carrying out my examination I have followed all th& applicable Directions given by the Charity Commission under section 14515llbl ol the 2011 Act. Independent examiner's statement I have completed my examination. l eonfim that no mattets have eomè lo my attèntion in connection with the examination giving me cause lo believe that in any material respttl.. accounting records were not kept in respecl of the Irusl as required by section 386 of the 2006 Act,. or the financial statements do not accord with those records; or the financial statements do not comply with the accountin9 requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not 8 matter considered as part of an independent examination., or the financi81 statements have not been prepared in accordance with the methods and principles ol the Statement ol Recommended Pr8clice for 8ccounling and reporting by charities applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republlc of Ireland IFRS 1021. I have no concems and have come across no other matters in connection with the examination to which allenlion should be drawn in this report in order lo enable a proper understanding of the finanual slalemenls lo be reached. Rou56 Partnsrs LLP Rouse Partners LLP Susan Drummond 55 Slalion Road Bga¢onsfield Buckinghamshire HP9 1QL United Kingdom Dated.. 22-Oct-2024
WATLINGTON HOSPITAL CHARITABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2023 Unro$trlctgd Unr•strlct8d funds funds 2023 2022 Notes Income and endowments from.. Donations and legacies Other trading aclivities Investments Other income 400 13.282 36,478 1,200 15,150 26,780 1,200 Total Income 51.360 43,130 Charftable advities 22,557 5,620 Nel gainslllossesl on investments 10 28,171 185,4651 N8t Sncom8ll•xpendltur•l and movem•nt In funds 56.974 147,9551 Ro¢onclllatSon ol funds.. Fund balances al 1 January 2023 2,359.533 2,407,488 Fund balance8 at 310ec•mb•r 2023 2,416,507 2,359,533 The stslemenl of finanual activities includes all gains and losses ¢con1$ed in the year. All income and expenditure derive from continuing adivilies.
WATLINGTON HOSPITAL CHARITABLE TRUST BALANCE SHEET AS AT 31 DECEMBER 2023 2023 2022 Notes Fixed assets Investment property Investments 11 12 1,500,0 700,382 1.500,000 672,209 2.200,382 2,172,209 Current assots Cash at bank and in hand 343,559 314,641 Cr•dltor$.' amounts falllng due wlthln one year 13 4,451 3,134 Nel current assets 339.108 311,507 Total assets less current Ilabllltles 2.539,4 2.483,716 Crèdltors.. amounts falllng du• aftèr mort than ono year 14 1122,983) 1124,1831 Not a88•t$ 2,416,507 2.359,533 Tho funds of the Iru$t Unrestricted funds 2,416,507 2,359,533 2,416,507 2,359,533 The company is entitled lo the exemption from the audit reqviremenl contained in section 477 of the Companies Act 2006, for the year ended 31 December 2023. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect lo accounting records and the preparation of finanal slalements. The members have nol required the company to obtain an audit of its finarrial statements for the year in question in accordan with section 476. Theso financial ststemgnls have been prepared in accordance with the provisions applicable to companies subje¢l lo the small companies regimo. 03-Oct-2024 The financial stslemenls were approved by the trustee5 on ......................... sIr Mr P Bassgtt Trustee Mrs l M Bir¢h-Reynardson Trustee Company rogislration number 04117752 {England and Wales)
WATLINGTON HOSPITAL CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 A¢¢ountlng poll¢les Charity information Watlinglon Hospitsl Charitsble Trust is a private company limited by guarantee incorporated in England and Wales. Thg regislered office is A(Iwell House. Adwell. Thame, Oxlordshire. OX9 7DQ. 1.1 Accountlng conventlon The financial statements have been prepared in accordance with the Irust's Igoveming documentl, the Companies Act 2006, FRS 102 'The Finan(#al Repong Stsndard applicable in the UK and Republic of Ireland" I'FRS 102.1 and the Charities SORP "Accounting and Repon9 by Charib'es.. Ststemenl of Recommended Practice applicable to charities preparing their acwunls in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. leffecb've 1 January 20191. The Irusl is a Publi¢ Benefit Enlily as defined by FRS 102. The Irusl has taken at1vanlage of the provisicS in the SORP for charities not lo prepare a Statement of Cash Flows. The financial slalements are prepared in sterling, which is the (unctional currency of the Irusl. Monetary amounts in these finanoal slalemenls are rounde(I lo the nearest £. The financial statements have been prepared under the historical cost convention, Imodified lo include the revaluation of freehold properties and to include inveslment properties and certain financial instruments al fair valuel. The principal accounting pglicies adopled are set oul below. 1.2 Golng c¢n¢ern Al the time of approving the financial statements, th8 truslees have a reasonable expectation that the trust has adequate resources lo continue in operational existence for ihe foreseeable future. Thus the trustees continue to adopt the going concem basis of accountsng in preparing ihe financial siatements. 1.3 Charltable fund8 Unreslricled funds are available for use at the di$tion of the Iruslees in furtherance of their charitsble objectives. Reslricled ftjnds are subject to spectfic conditsons by donors or grantors as lo how they may be used. The purposes and uses of the restricted funds a sel out in the notes lo the financial slalements. Endowment funds are svbjgct to specific conditions by donors Ihal the capilal musl bg maintained by the trust. 1.4 Incom• Income is recognised when the trust is legally entitled lo il after any performance conditions have been mel, the amounts can be measured reliably, and it is probable that income will be reived. Cash donations are recogni5ed on receipt. Other donations are recognised once the tru51 has been notified of the donation, unless performance conditions require deferral of the amount. Income lax recoverable in relation to donations received under Gift Aid or deeds of cx)venant is re(xKJnised at the time of the donation. Lega¢ies are re¢ognised on receipt or otherwise rf the trust has been notified of an impending dislribulion, the amount is known, and CeIpt is expected. If the amount is not known. the legacy is treated as a conlingtrnl asset.
WATLINGTON HOSPITAL CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Accounting policies (Continued) 1.5 Expanditura Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third paty, il is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each adivity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute lo more than one activity and support costs which are not attributable lo a single activity are apportioned between those activities on a basis consislenl with the use of resources. Central staff costs are allocated on the basis of lime spent, and depreciation charges are allocated on the portion of the asset's use. 1.6 Invèstment property Investment propgrty, which is property held lo eam renials andlor for Capital apprecialion, is initially recognised al cost, which includes the purchase cost and any directly attributable expenditure. Subsequently il is rneasured al fair value at the reporting end dale. The surplus or deficit on revalualion is recognised in profil or loss. 1.7 Flxed a$sgt Invg$lments Fixed asset investments are initially measured al transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in nel incornellexpendilurel for the year. Transaction costs are expensed as incurred. 1.8 Cash and cash equlvalents Cash and cash equiv81enls include cash in h8n(l. deposits held 81 call with banks, other short-temi liquid investments with original malurilies of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 8aslc flnanclal assets Basic financi81 8ssels, which include debtors and cash and bank balances, are initially measured al transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the 8rr8ngemenl constitutes a financing Iransaclion, Whe the transaction is measured al the present value of the future receipts discounted al a market rale of interest. Financial assets classifie(J as receivable within one year are not amortised. Basic financial liabilities Basic financi81 li8bililies. including creditors and bank loans a intttally recognised al transaction price unless the arrangement constitutes a financing Iransa¢tion. where the debt instrument is measured al the present value ol the future payments discounted al 8 market rate of interest. Finan(ial liabilities classified as payable within one year a not amortised. Debt instruments are subsequgnlly carried at amortised cost, using the effeciive interest rale method. Trade creditors are obligations to pay for goods or seryices that have been acquired in the ordinary course of operations from SLJppliers. Amounts payable a ¢lassified as Current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequendy measured al aM0.sed cosl using the effective interest method. Derecognition of financial liabilities Financial liabilities are derewgnised when the trust's contractual obligations expire or are dis¢harged or cancelled.
WATLINGTON HOSPITAL CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Crftl¢al a¢¢ountlng •stlmat•$ and Judgements In the application of the Irusl's accounting policies. the Iru5tees aTe required lo make judgements. eslimales and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The eskn'male5 and as50Cl8led 8S5Limplion5 are based on hi51oncal experience and other factors that are considered to be relevant. Actual results may differ ITOM these estimates. The estimates and underlying assumptions are vieWed on an ongoing basis. Revisions lo accounting estimates are recognised in the perio(J in which the estimate is revised where the revision affects only that period, or in the period ol th8 revision and luture riods where the revision affects both current and future periods. Income from donatlon8 and legacles Unrestrlclod Unrestrl¢tod funds funds 2023 2022 Other 400 15,150 Income from other tradlng advltles Unrg$lrl¢lod Unrostrl¢tgd funds funds 2023 2022 Fundraising events 13,282 Income from investments Unrastrlcted Unr•strlct8d funds funds 2023 2022 Interest on investments 36,478 26.780 Other income Unrestricted Unrestricted funds funds 2023 2022 Other income 1,200 1,200
WATLINGTON HOSPITAL CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 ExndIture on charltsbl• a¢tlvltl•s Charitable Charitable Expensiture Expensiture 2023 2022 Direct costs Garden maintenance Accountancy Bank charges Misc expenses 18,108 4,141 2,415 3,120 85 224 22,557 5,620 Analysls by fund Unreslricled funds 22,557 5,620 Trustees None of the Iruslees lor any persons connected with them) ret*ived any remuneration or benèfits from the trust during the year. Employ•88 The average monthly number ol employees during the year was: 2023 Number 2022 Nufflber Totsl There wore no employees whose annual remunoralion was more than £60,0(KI. 10 Gains and lo$$e$ on investments Unrestricted Unrestricted funds funds 2023 2022 Gainslllossesl arising on.. Revaluation of investments 28,171 185,4651 11 Investment property 2023 Fair value At 1 January 2023 and 31 De¢ember2023 1,500,000
WATLINGTON HOSPITAL CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 11 Investment property (Continued) The investmenl land held by the charity has not been revalued. The Trustees have been advised by professional valuers that valuing the land separalely from the propety that now occupies the land is extremely difficult and expensive. Following the advice of the professional valuers. the Trustees have therefore decided to continue to reflect the land al cost for the foreseeable future. On 28 October 2002, the Charity granted a 125 year lease lo SanctU8ry Housing Association and Brackley Investments Limite¢J . tKJth leases ar& subject lo a p8ppercom rent. 12 Flxed asset Investments Unllsted Invostmènts Cost or valuatlon Al 1 January 2023 Movement during the year 672,209 28,173 Al 31 December 2023 700,382 Carrylng amount Al 31 December 2023 700,382 Al 31 December 2022 672,209 13 Credltors: amounts falllng due wlthln ono year 2023 2022 Accruals and deferred income 4,451 3,134 14 Creditors- amounts falling due after more than one year 2023 2022 Notes Deferred income 15 122,983 124,183 15 D•ferred Incom• 2023 2022 Other deferred income 122,983 124,183 Deferred income is included in the financial statements as follows..
WATLINGTON HOSPITAL CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 1 S Deferred income (Continued) 2023 2022 Deferred in¢ome is included within.. Non-currenl liabilities 122,983 124,183 Movernenls in the year. Deferred income 8t 1 January 2023 Releasgd from previous perirMIs 124,183 11,2001 125,383 11,2001 Deferred income at 31 December 2023 122,983 124.183 16 Unre8trfct funds At 1 January 2023 Incomlng Resource• rèsourcè¥ expended G•ln$ and At31 Dècomb•r 2023 Genèral funds 2.359.S33 51.360 122,SS7) 28,171 2.416,507 Prevlou8 year.. At 1 January 2022 Incomlng Resource¥ resources expended Galns and losses At31 December 2022 General funds 2,407,488 43,130 15,620} 185,4651 2,359,533 17 Ro18ted party tran$a¢tlon$ There were no disdosable Tel8te(I party transactions during the year12022 - none).